Matt Hall focuses on what he hopes will be the denouement of the Loan Charge ‘scandal’.
In the 2024 Autumn Budget, the government promised to “commission an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers”.
The scope of that Review was announced on 23 January 2025 . It will be led by former CIOT President and senior HMRC Inspector, Ray McCann.
The very narrow scope of the Review will offer little encouragement for those who hoped for more. One thing it absolutely won’t review is the Loan Charge! Instead, the focus will be how those who have not yet settled can be ‘encouraged’ to do so:
The overarching objectives of the review are:
- Bringing the matter to a close for those affected.
- Ensuring fairness for all taxpayers.
- Ensuring that appropriate support is in place for those subject to the Loan Charge.
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